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8 Large U.S. Financial Retailers Close Up Shop


Updated: March 21, 2022

IRA Investment Options
Editor’s Note:

There are many reasons that individuals and investors are seeking different IRA Investment options and ways to hedge their portfolios, but one of the most influential is the current volatility of the economy. While many experts believe we’re moving towards economic recovery, almost as many point in the other direction.

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If the economy is moving towards recovery, then why are so many retailers closing down stores across the nation? As “for lease” and “space available” signs seemingly pop up on every street, it’s hard to bank on President Obama’s recently statement that those reporting that the economy is declining are “peddling fiction.”

Here is a list of 8 major retailers who plan to close shop by the end of 2016:

1. Sears. The once behemoth retailer plans to close a minimum of 50 stores that were deemed unprofitable. Fourth quarter reports showed a loss of more than 580 million dollars—for that period alone.
2. Target. The mass retailer closed 13 stores on January 30, 2016.
3. Wal-Mart. The chain is closing 269 stores worldwide, including 154 U.S. stores. This includes some Wal-Mart Express stores, Supercenters, Neighborhood Markets, Sam's Clubs and 7 Amigo stores located in Puerto Rico.
4. Kohl’s. The chain of low-price department stores plans to provide a list this month of 18 under-performing stores it plans to close.
5. Sports Authority. The sports apparel and equipment giant plans to close 140 stores, nearly one-third of its locations, as part of its Chapter 11 bankruptcy.
6. Best Buy. After closing 30 stores in 2015, it looks like more closings are on the horizon.
7. Office Depot. The once-thriving office supply chain will close 400 stores by the end of this year.
8. K-Mart. The corporation plans to close 25 stores or more this year.

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